RevenueWell to Offer Synchrony's CareCredit to Its Dental Practices and Patients

RevenueWell, the leading provider of patient engagement and communication solutions for the dental market, is excited to announce significant enhancements to its RevenueWell Marketing Platform as part of a new partnership with Synchrony (NYSE:SYF), a leading consumer finance company, and its health and wellness financial solution, CareCredit. The latest updates empower dental practices to more effectively communicate CareCredit financing options to patients leveraging the full power of RevenueWell marketing campaigns, text messaging, and website templates. Additionally, new workflow enhancements dramatically simplify the process of confirming and communicating pre-approvals, payment status, and pre-existing CareCredit accounts, further improving the ability of practices to provide timely and accurate information about a patient’s payment and financing status.

Key features of the CareCredit enhancements

• Personalized CareCredit URLs - By leveraging the latest CareCredit API, RevenueWell will take advantage of CareCredit personalized URLs (PURLs) for each patient, enabling CareCredit automation to pre-fill patient-specific information, or bypass steps in the application process if someone has already been pre-approved or is an existing CareCredit card holder.  Through this process, the time required to fill an application will be significantly shortened for many patients, increasing the number of patients using CareCredit as a financing option and therefore the percentage of patients who can accept their treatment plan.‍
• Messenger Quick Links - Through enhancements to Messenger, practices will be able to quickly send PURLs from within their real-time text conversations, providing just-in-time decision support for patients navigating questions of payment and affordability.‍
• Campaign Merge Field and Filter - With the new enhancements, PURLs can be easily added to any campaigns, and practices can target an audience with relevant treatment options and promotions. Through RevenueWell’s advanced campaign features, practices will now be able to include pre-approval as a targeting attribute alongside all other advanced targeting criteria such as treatment plan code. This enables practices to dramatically improve case acceptance by notifying patients with certain treatment plan codes that they are pre-approved for CareCredit financing.‍
• Off-the-shelf Content for Websites - RevenueWell’s ADA-endorsed web design services will now offer pre-designed and SEO-optimized web pages describing CareCredit services, enabling practices to showcase their financing options via any RevenueWell designed website.‍
• CareCredit Payment, Pre-approval, and Payment Verification - With these new enhancements, we’ve made it easier to complete CareCredit workflows when the patient is in the office. Clicking on the patient’s pre-approved amount (or current cardholder) allows the practice to quickly accept or decline the pre-approval or process a payment. Additionally, RevenueWell users can also easily check the status of a payment on behalf of a CareCredit user.

“We are thrilled to introduce these game-changing enhancements to RevenueWell Marketing Platform,” said Richard Juknavorian, Chief Product Officer of RevenueWell. “These upgrades take treatment financing to the next level, reducing the dependency on front desk workers to make awkward in-person pitches while enabling patients to take advantage of personalized, hassle-free financing options. We expect these improvements to drive significant improvements to both patient satisfaction and case acceptance rate.”

How it works

The new enhancements are included with most versions of RevenueWell Marketing Platform, including Professional and Premium editions, as well as any stand-alone implementations. Practices can link their CareCredit and RevenueWell accounts by following the link to enter their CareCredit Merchant ID.

Key practice benefits

• Improved Efficiency - With these changes, front desk staff will no longer need to explain CareCredit options – the whole process will be managed on the patient side with minimal involvement from front desk staff. Common inquiries about pre-approvals and payment status can be handled quickly and easily with the new user interface enhancements.‍
• Improved Case Acceptance - The main barrier to case acceptance is cost related to treatment. With these changes, patients will be much more aware of their financing options, providing more opportunities for them to accept the care they need, reducing treatment backlog and increasing realized revenue.‍
• Improved Patient Satisfaction - According to recent PYMNTS.com survey, patients are generally dissatisfied with their payment experience in healthcare – 40% said they weren’t satisfied with their billing experience, 36% said they would switch providers if billing was too complex, and 27% said they would consider switching providers if they weren’t offered a payment plan or third-party financing. With these new enhancements, RevenueWell Marketing Platform dramatically reduces these potential patient satisfaction risks by simplifying the process and empowering patients with more options and more control.

Availability

The CareCredit enhancements will be available in the RevenueWell Marketing Platform on October 31st for all customers.

For more information about RevenueWell Marketing Platform’s latest enhancement, please visit https://www.revenuewell.com/marketing-platform.

‍About RevenueWell

RevenueWell is the only comprehensive patient relationship platform offering software and services that empower dental practices to attract the right new patients, maximize practice performance, and simplify front office operations. RevenueWell helps solo practitioners, large DSOs, and specialists deliver better care and operate more profitability by combining ADA-endorsed, industry-leading software with award-winning support and services. RevenueWell knows dental with over 40 years of deep dental expertise serving over 12,000 thriving practices. 

About Synchrony
Synchrony (NYSE: SYF) is a premier consumer financial services company delivering one of the industry's most complete digitally enabled product suites. Our experience, expertise and scale encompass a broad spectrum of industries including digital, health and wellness, retail, telecommunications, home, auto, outdoor, pet and more. We have an established and diverse group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers, which we refer to as our "partners."  We connect our partners and consumers through our dynamic financial ecosystem and provide them with a diverse set of financing solutions and innovative digital capabilities to address their specific needs and deliver seamless, omnichannel experiences. We offer the right financing products to customers in their channel of choice. For more information, visit www.synchrony.com and X: @Synchrony.